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EghtesadOnline: The stock market in Tehran made a much-awaited comeback on Monday driven by a rally in large caps following lukewarm performance in the past several sessions.

The main gauge of Tehran Stock Exchange, TEDPIX, gained  1.46% clawing back above the critical 1.4 million points. The benchmark settled at 1,407,132 at the close of the session.

The rally in majority of blue chips was triggered by a positive report about the Social Security Investment Company, known locally as Shasta.

As trade started Mirhashem Mousavi, the managing director of Shasta, said the giant holding company is planning to raise capital by 1,172% via asset revaluation.   

The rally extended to a broad range of shares but small caps lagged behind. The TSE’s equal-weighted index gained less than 1% for the day.  

About 6.22 billion shares valued at 45.58 trillion rials ($163 million) changed hands at TSE for the day. Trade at the TSE and junior equity exchange Iran Fara Bourse starts on Saturday and ends Wednesday.

Esfahan Oil Refining Company was the biggest winner as its shares went up 5.17% to 6,310 rials per share.

Neyriz White Cement Company incurred the biggest loss among all TSE-listed companies and went down 4.96% to 41,380 rials per share.

Shiraz Petrochemical Company contributed the most to the benchmark's fall, followed by Tehran Stock Exchange (TSE Company), Nasir Machine Engineering Company and Dr. Abidi Pharmaceutical Company.

Persian Gulf Petrochemical Industries Company gave the biggest boost to the benchmark index followed by Social Security Investment Company, Mobarakeh Steel Company and Pardis Petrochemical Company.

IFX Up 0.85%

Iran Fara Bourse main index, IFX, gained 169.59 points or 0.85% to close Monday trade at 20,187.21. About 2.16 billion securities valued at 672.6 trillion rials ($2.4b) were traded at the junior exchange for the day.

Esfahan Steel Company had the highest number of traded shares as 71.79 million of its shares worth 275.02 billion rials ($982,225) were traded.

Minoo Industrial Group Company, Marun Petrochemical Company, Omid Taban Hour Energy Management Company and Rail Pardaz Noafarin Company had the most negative impact on IFX.

Arya Sasol Polymer Company gave the biggest boost to IFX, followed by Zagros Petrochemical Company, Shahid Tondgooyan Petrochemical Company and Esfahan Steel Company.


Tehran Stocks